Underlining the record-breaking market run, US stocks surged
overnight, with the Dow Jones index ending up 113.55 points to
10,002.03 after oil prices fell almost 5 per cent.

While resources rose, the drop in the price of oil put pressure
on Woodside, down 40c to $19.55. Oil Search lost 4c
to $1.78.

Telstra, which had its annual meeting yesterday, fell 3c
to $4.64 while rival Singapore Telecom rose 3c to $1.95.

Taking a breather from a stellar week, News Corp dropped
3c to $10.88 and its preferred scrip fell 9c to $10.60.

In other media stocks, Fairfax rose 10c to $4.22 while
PBL added 2c to $14.54.

Among other blue chips, Qantas was unchanged at $3.30.
Virgin Blue rose 9c to $1.77.

In travel retail, Flight Centre dropped 25c to $19.35.
Its annual meeting heard the company achieved record business and a
$17.7 million profit after tax in the first quarter.

"It is difficult to make any predictions for the current year at
this early stage, but the company sees no reason to vary its
guidance of 15 per cent profit growth before tax," chairman Norman
Fussell said.

Woolworths lost 25c to $13.21 after triumphing with its
bid for Australian Leisure & Hospitality. Its rival for the
business, Coles Myer, rose 6c to $9.41.

Shares in Australian dairy company National Foods shot up
20 per cent or 92c to $5.59 after its New Zealand rival, Fonterra,
said it would make a cash offer - later rejected - of $5.45 a share
for the company.